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Dec 30, 2012
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details on a brand-new sales tax. and senator libbedy graham has been an outspoken critic of president barack obama for years. but what is he saying today? >> if the president doesn't deal with this, he is a lousy commander in chief. [ male announcer ] how do you measure happiness? by the armful? by the barrelful? the carful? how about...by the bowlful? campbell's soups give you nutrition, energy, and can help you keep a healthy weight. campbell's. it's amazing what soup can do. time for citi price rewind. because your daughter really wants that pink castle thing. and you realldon't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it findone, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all youeed is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >>> you are not only going to cut your way to prosperity. >> we have not seen the leade
details on a brand-new sales tax. and senator libbedy graham has been an outspoken critic of president barack obama for years. but what is he saying today? >> if the president doesn't deal with this, he is a lousy commander in chief. [ male announcer ] how do you measure happiness? by the armful? by the barrelful? the carful? how about...by the bowlful? campbell's soups give you nutrition, energy, and can help you keep a healthy weight. campbell's. it's amazing what soup can do. time for...
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Dec 28, 2012
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tell john boehner not to raise taxes. he'll raise them on all of us. the congress is on taxes. everything -- we shouldn't be debating this. congress should because tax bills, as you know, have to start, the constitution says, in the house of representatives. the fact that the white house is negotiating with the senate is a little bit surreal and ridiculous. >> hold on a second, mark. >> michelle, mark is right, it has to start in the house with spending or tax bills but there are two bills the house passed that are sitting in the senate. >> we ought to go over the fiscal cliff. i think we shouldn't make a deal where we're not -- we shouldn't raise taxes. we need entitlement reform, then we can talk. if there's no real entitlement reform, there's nothing we can do. democrats spend, spend, spend. now they have the bill, the fiscal cliff and they don't like the result. what are they going to do? it's time you actually put a stop -- >> we're going to have to leave it there. thank you very much. >> thank you. >> a case of extreme helicopter parents sued by their daughter for stalkin
tell john boehner not to raise taxes. he'll raise them on all of us. the congress is on taxes. everything -- we shouldn't be debating this. congress should because tax bills, as you know, have to start, the constitution says, in the house of representatives. the fact that the white house is negotiating with the senate is a little bit surreal and ridiculous. >> hold on a second, mark. >> michelle, mark is right, it has to start in the house with spending or tax bills but there are...
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Dec 23, 2012
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snow across the panhandle of taxes and oklahoma. snow in oklahoma and we'll watch this potentially be a major weather maker wednesday and thursday across the northeast. so if you've -- pretty good travel conditions to get to your destination for christmas. getting home from christmas might be a different story wednesday and thursday from this storm. >> weather 8, how many of these fancy map things do you have? >> not enough. let me tell you, but we've got five different systems we run the maps on and sometimes the wrong one gets plugged in. >> i see you studying this stuff all the time. thanks a lot. >>> the clock ticking down. can you believe it's nine days until spending cuts and tax hikes kick in for all of us? the president is standing firm on fiscal cliff negotiations and so much is at stake. why can't both sides reach a compromise? >> charlie, how are you? >> fine, good to be with you. >> great to have you here. good morning. look, they don't seem closer. everybody says they're compromising. i'm curious, do you feel from the p
snow across the panhandle of taxes and oklahoma. snow in oklahoma and we'll watch this potentially be a major weather maker wednesday and thursday across the northeast. so if you've -- pretty good travel conditions to get to your destination for christmas. getting home from christmas might be a different story wednesday and thursday from this storm. >> weather 8, how many of these fancy map things do you have? >> not enough. let me tell you, but we've got five different systems we...
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Dec 29, 2012
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as the guy that is the tax cutter. has he tored in the republicans -- factored in the republicans have control of the budget with the debt ceiling? >> i think the president is beginning to see the long-term consequences if we do increase taxes. we maybe ought to do a little celebrating here. democrats are now on board that 98% of bush's tax cuts were a good thing for america and for the economy. let's at least chalk that up as a win. i agree with senator toomey, right now unfortunately only president obama is the one man that can sign a bill into law and without him agreeing to sign a bill everybody's taxes go up. we are in a position of how do we limit the damage and i think the best way of doing that is continue to talk about what we need to do is grow the economy and that is something president obama hasn't shown any interest in doing. certainly hasn't concentrated on it in his first term. >> sean: and senator toomey, it is a little frustrating as we watch this frankly reckless irresponsible political positioning go
as the guy that is the tax cutter. has he tored in the republicans -- factored in the republicans have control of the budget with the debt ceiling? >> i think the president is beginning to see the long-term consequences if we do increase taxes. we maybe ought to do a little celebrating here. democrats are now on board that 98% of bush's tax cuts were a good thing for america and for the economy. let's at least chalk that up as a win. i agree with senator toomey, right now unfortunately...
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would pay more in payroll taxes. families making between 40 and $65,000 a year would pay an extra two grand or so to the government. gregg: the big question, do lawmakers hope to get anything out of the last minute fiscal cliff talks or is it just for show? democratic congressman chris van hollen is the ranking member of the house budget committee. he will be joining us live coming up in the next hour what he really thinks is going on. patti ann: well the u.s. economy meanwhile could suffer yet another major blow. looming strikes at ports from next sass to boston are threatening to put thousands of americans out of work. with potential losses for u.s. businesses ranging in the billions. >> the port of baltimore is one of maryland's largest economic generators. any type of work action that may result in a suspension or stoppage of work would have an adverse effect. >> we handle more cars, we handle more farm and construction equipment than any other u.s. port. patti ann: we're learning that adverse effect could take a
would pay more in payroll taxes. families making between 40 and $65,000 a year would pay an extra two grand or so to the government. gregg: the big question, do lawmakers hope to get anything out of the last minute fiscal cliff talks or is it just for show? democratic congressman chris van hollen is the ranking member of the house budget committee. he will be joining us live coming up in the next hour what he really thinks is going on. patti ann: well the u.s. economy meanwhile could suffer yet...
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that is tax cut over 250, it's a tax increase. senator mcconnell may be trying to move that to $400,000. >> arthel: and then the notion of lowering social security payments is definitely off the table in terms of democrats' side? >> it's clear from senator reid said, they are not going to touch social security. but the president has made clear in discussions with speaker boehner, these entitlement programs will be on the table but only if it's a broader debt deal. republicans have different ideas. they want to see more cuts in spending right now. >> arthel: thank you very much. >> gregg: congress is not only facing a fiscal cliff, it's up a dairy clarify, if you will. the current farm bill is set to expire on new year's day. if an extension of that is not passed, the farm policies would revert to laws back to 1949 and cost of milk, that could skyrocket. back then the government used a formula to calculate dairy prices that is much more expensive than it is today. one option said to be on the table is short term extension that woul
that is tax cut over 250, it's a tax increase. senator mcconnell may be trying to move that to $400,000. >> arthel: and then the notion of lowering social security payments is definitely off the table in terms of democrats' side? >> it's clear from senator reid said, they are not going to touch social security. but the president has made clear in discussions with speaker boehner, these entitlement programs will be on the table but only if it's a broader debt deal. republicans have...
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tax increases, massive tax reductions to the military. republicans really stand and the notion is appalling about who wins, but the republicans win because the economy is going to go out yet another fiscal cliff. george w. bush is not the president. obama is the president, he is not putting forth proposals to work with republicans. he will have to take ownership of this. they need to come up with a cohesive message about real economic growth and shrinking the size of government. they don't have a message and that is going to be the big question about who wins and long-run. jon: if we go over the cliff, i mean, everyone's paycheck, just about -- come january 1, it will be shrunk because government is going to be taking a much bigger chunk out of it. that will infuriate people. are they going to be blaming president obama? >> well, they won't be blaming president obama because polls show that they are blaming republicans. republicans are not really coming to the table. we had an election, and we had an election where voters clearly supporte
tax increases, massive tax reductions to the military. republicans really stand and the notion is appalling about who wins, but the republicans win because the economy is going to go out yet another fiscal cliff. george w. bush is not the president. obama is the president, he is not putting forth proposals to work with republicans. he will have to take ownership of this. they need to come up with a cohesive message about real economic growth and shrinking the size of government. they don't have...
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Dec 27, 2012
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if the president and lawmakers cannot reach a deal in the next five days, automatic tax hikes and major spending cuts are set to kick in and economists warn that could trigger another recession. what else are we hearing from democrats on the hill? >> trace, very interesting comments from vice president joe biden up here for an unrelated matter about the fiscal cliff today. he says, essentially he was asked what do you think will pass? he said if you tell me what would attract republican support, i can tell you what would pass. if asked if he was optimistic, he said he was neither optimistic or pessimistic but was going back to talk to the president. the senate majority leader sounded frustrated with house republican leadership. >> american people i don't think understand the house of representatives is operating out the house of representatives. it's being operated with a dictatorship of the speaker, not allowing the vast majority of the house representatives to get what they want. >> reporter: as you mentioned, trace, the speaker's spokesman said afterward, reid should focus on legisla
if the president and lawmakers cannot reach a deal in the next five days, automatic tax hikes and major spending cuts are set to kick in and economists warn that could trigger another recession. what else are we hearing from democrats on the hill? >> trace, very interesting comments from vice president joe biden up here for an unrelated matter about the fiscal cliff today. he says, essentially he was asked what do you think will pass? he said if you tell me what would attract republican...
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trying to cut taxes. if you are not happy to have -- >> bob: i think the republicans trying to do something good is absurd. >> greg: look at harry reid. eloquence of a bails bondman. we elected gluttons to guard a fridge. >> kimberly: midnight raiding it. i was thinking frat boy to guard the bar but i went with the glutton. >> eric: both sides, though. >> andrea: the republicans can't do anything. they get blamed for everything. everything we agree with is courageous. >> greg: when private unemployment reaches double digits. >> andrea: coming up, mayor rahm emanuel -- rahm. why did i call him that? tore in nra for calling armed guards at school to keep america's chirp safe. greg will tell us why that is ironic for him and why the nickname is "ram" next on "the five." ♪ ♪ ♪ ♪ ♪ ♪ >> greg: according to bretbaffert news, the school has armed police officer. any sane parent would like that. like mayor rahm emanuel who sends the children to the school. or he said it's wrong to allow the same thing
trying to cut taxes. if you are not happy to have -- >> bob: i think the republicans trying to do something good is absurd. >> greg: look at harry reid. eloquence of a bails bondman. we elected gluttons to guard a fridge. >> kimberly: midnight raiding it. i was thinking frat boy to guard the bar but i went with the glutton. >> eric: both sides, though. >> andrea: the republicans can't do anything. they get blamed for everything. everything we agree with is...
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taxes himself. and we didn't talk about much in this except for mitt romney's character and his bank account and those things. it was a sort of the seinfeld election, the election about nothing. and e president won anyway. he returned to washington, and what we have now is an atmosphere here where people can't think about big stuff, they can't even conceive of the idea of doing big things. gregg: right. >> and it shouldn't be surprising to us now that as we get down to the end and we get to the cliff itself that what everybody's talking about is shrinking the field and just doing something desperate just to patch to get by into the new year. gregg: speaking of small and cynical, let me carry that forward -- [laughter] with the remarks of senator john barrasso who yesterday on fox news sunday said he thinks the president is eager to go over the cliff because he senses victory. the president senses victory at the bottom of the cliff. now, that's a pretty cynical point of view, but i wonder if it's rea
taxes himself. and we didn't talk about much in this except for mitt romney's character and his bank account and those things. it was a sort of the seinfeld election, the election about nothing. and e president won anyway. he returned to washington, and what we have now is an atmosphere here where people can't think about big stuff, they can't even conceive of the idea of doing big things. gregg: right. >> and it shouldn't be surprising to us now that as we get down to the end and we get...
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the taxing authority. we have the constitutional authority and duty to go in there and tax and spend and create that budget. also we beat up obama and rightly so for the lack of transparency in the obama care debate and we are having four people negotiate the budget. put it back into paul ryan's hands and let's lead. >> i heard paul ryan's name mentioned. of course, his office, don't look at us. we support boehner. but look, if there was some revolt, if this thing is real and people will start mentioning ryan and it builds and builds and builds, i mean would he be somebody who said no to that? >> i think he would say no very quick. he might have other plans perhapses in 2016 and running for speaker, win, lose or draw would be bad for all those plans. i consider are this rahmer to be a three beer rumor which is after about the third beer people like we should replace boehner and that sounds like a good idea and repeat that enough and then it becomes a rumor. look, the staff i talked to on the hill, even the
the taxing authority. we have the constitutional authority and duty to go in there and tax and spend and create that budget. also we beat up obama and rightly so for the lack of transparency in the obama care debate and we are having four people negotiate the budget. put it back into paul ryan's hands and let's lead. >> i heard paul ryan's name mentioned. of course, his office, don't look at us. we support boehner. but look, if there was some revolt, if this thing is real and people will...
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no tax increases people below, but taxes for people above. he won. 60% of the voters said they were for it in the the exit polls, including some republicans. >> reporter: the president is still vacationing here in hawaii. white house officials are privately making it clear that you heard him last friday before he left the white house, i'll see you next week. if there is not some sort of christmas miracle and some sort of a deal over the next 24 hours very likely we'll see the president get on air force one in the next couple of days, right after christmas and head back to washington to find some sort of solution, kelly. kelly: hopeful people are following his advice and listening to christmas carols, drinking eggnog and talking to constituents. jaime: mistletoe extract could be good for your health. we'll talk about that. can bolt sidecan both sides bridge the gap before it's too rate or does one side want us to go off the fiscal cliff? washington insiders weigh in next. we'll be right back. with the spark miles card from capital one, thor ge
no tax increases people below, but taxes for people above. he won. 60% of the voters said they were for it in the the exit polls, including some republicans. >> reporter: the president is still vacationing here in hawaii. white house officials are privately making it clear that you heard him last friday before he left the white house, i'll see you next week. if there is not some sort of christmas miracle and some sort of a deal over the next 24 hours very likely we'll see the president...
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Dec 29, 2012
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we can't just rely on raising taxes. we have to look at cutting spending and the republicans are doing that, even more so with gite ner pointing out the -- geithner pointing out the fact, warning us on the debt ceiling. this shows us we have out of control spending and raising taxes is not going to get us out of this mess. >> alice, you realize that most americans think you need a combination of tax hikes and spending cuts. it's not just one half of the deal. this is republicans and democrats, about 70% of americans, so it's not just a one-sided deal, and the second thing to say is, you know, these guys aren't that far apart. you know, in fact, when you look at how much revenue boehner has put on the table, he's close to a trillion dollars and he's just simply saying i want a trillion dollars in spending cuts as with he will. president obama, he's close to the same number. they're about, you know, $300 billion apart. they're about 1% apart in this whole deal, so i don't think it's fair to just attack the democrats someho
we can't just rely on raising taxes. we have to look at cutting spending and the republicans are doing that, even more so with gite ner pointing out the -- geithner pointing out the fact, warning us on the debt ceiling. this shows us we have out of control spending and raising taxes is not going to get us out of this mess. >> alice, you realize that most americans think you need a combination of tax hikes and spending cuts. it's not just one half of the deal. this is republicans and...
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estate tax goes to 50%. obamacare taxes for many individuals will be .9% on those earning over $200,000. that's another full percentage point. also we have a penalty tax will be imposed on the individuals. and also some employers. then on top of that we have, as kerry mention the, the alternative minimum tax patch. so we have five huge consequences right out of the box. you cover the economy every day. what does that mean to you and how does that affect the average person that will watch this go through? >> a lot of people entered the new year thinking i can't wait to file my taxes so i can get my tax return check. here is the irony and we will start from the bottom of the list. amt is my favorite thing to talk about because it's also known as the wealth tax. it was created 43 years ago because evil, greedy people were not paying their quote, unquote, fair share. this time it could affect $34 million people starting at $74,000. why? it was never indexed for inflation. it was one of these taxes put into plate
estate tax goes to 50%. obamacare taxes for many individuals will be .9% on those earning over $200,000. that's another full percentage point. also we have a penalty tax will be imposed on the individuals. and also some employers. then on top of that we have, as kerry mention the, the alternative minimum tax patch. so we have five huge consequences right out of the box. you cover the economy every day. what does that mean to you and how does that affect the average person that will watch this...
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Dec 23, 2012
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for not voting on the tax on over there for over a monthly they are allowing the tax on everyone over 2 thift,000 to go up. >> ?ar majority leader harry reid who has gotten involved, helpful or hurtful? >> i don't know if they are serious. there is talk democrats want to go over the fiscal cliff. if no action is taken by december 31st, everyone's tacks go up. that gives more revenue to the federal government and the president can decide who he will propose tax cuts for. i think the democrats feel it could go over the cliff. everyone's taxes will be gone up. >> automatically. >> what would happen to spending if you went over the cliff? >> you would have automatic spending cuts come in which in some cases mate be good, but could december mate defense. and that's the real concern i have is that these cuts are almost arbitrarily 50-50 and the defense is not 50% of the budget, and they will drastically cut weapon systems and the deployment of our troops. >> i can understand that you would be concerned about that. in terms of this christmas break now that you are home and the president is i
for not voting on the tax on over there for over a monthly they are allowing the tax on everyone over 2 thift,000 to go up. >> ?ar majority leader harry reid who has gotten involved, helpful or hurtful? >> i don't know if they are serious. there is talk democrats want to go over the fiscal cliff. if no action is taken by december 31st, everyone's tacks go up. that gives more revenue to the federal government and the president can decide who he will propose tax cuts for. i think the...
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, 250, no tax increases people below but taxes for people above. he won. 60% of the voters were for it in exit polls including some republicans. >> reporter: where we have been really throughout this entire debate which is probably maddening for a lot of our viewers both sides duking it, not making a lot of progress. they're contacting at staff level between congressional republicans and white house. no contact between president and speaker boehner recent days. this hasn't moved forward. what will likely happen they will continue to celebrate the christmas holidays. very likely a day or two after christmas the president will fly back to d.c., sit down with congressional leaders to figure this out, gregg. >> ed henry looks amazing as fresh as a daisy at 5:03 a.m. in honolulu. has the red pocket square there for christmas and wearing bermuda shorts and flip-flops before the camera level. >> reporter: pretty much. gregg: nice touch. merry christmas. >> you too. heather: we're getting holiday apologies from idaho republican senator michael crapo after
, 250, no tax increases people below but taxes for people above. he won. 60% of the voters were for it in exit polls including some republicans. >> reporter: where we have been really throughout this entire debate which is probably maddening for a lot of our viewers both sides duking it, not making a lot of progress. they're contacting at staff level between congressional republicans and white house. no contact between president and speaker boehner recent days. this hasn't moved forward....
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what are those tax increases? bush tax cuts expire at midnight tomorrow night and you'll wake up the next morning and face a higher tax rate unless congress acts. there's also a possibility of a $108 billion in spending cuts. this is largely the defense department as we talked about and also money that ends up in people's pockets. there's an economic impact. >> i misspoke, i said tuesday at midnight. tomorrow at midnight. >> yes, december 31. >> the money is personal for people. you start to talk about budging a household. for the average family? >> 3500 bucks is the income tax hit. >> above what they're paying. >> and additional 3500 for median income. that goes up dramatically the wealthier you are. tens of thousands of dollars more. you could on the hook for a real hit. >> the argument is the wealthy won't feel it but they won't spend it either. >> that's the point. a lot of those people paying higher taxes own small businesses and will opt not to hire and it will ripple through the economy. >> it hurts when i
what are those tax increases? bush tax cuts expire at midnight tomorrow night and you'll wake up the next morning and face a higher tax rate unless congress acts. there's also a possibility of a $108 billion in spending cuts. this is largely the defense department as we talked about and also money that ends up in people's pockets. there's an economic impact. >> i misspoke, i said tuesday at midnight. tomorrow at midnight. >> yes, december 31. >> the money is personal for...
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tax base. the numbers are sort of come complex. when the bush tax cuts went into effect fewer people had an income tax liability. this is what mitt romney was talking about last year with the 47%. if the tax rates increase you all of a sudden have more people paying income taxes and you just have a broader, higher rate to play with. next year when they come back they can get rid of some of the duck -ts and what not and lower the rates and overall have a lot more money in the system to play with, a lot more options. they think they are better shape for tax reform if they come back next year with the rates having gone up. >> reporter: and by not allowing the president to just add nah see um raise the debt level, they have leverage, don't they? >> they believe so. and the president -- it's safe to say the president realizes that, because he's been insistent throughout that he won't deal with another debt level gamesmanship as he calls it from the last time around. he understands that republicans s
tax base. the numbers are sort of come complex. when the bush tax cuts went into effect fewer people had an income tax liability. this is what mitt romney was talking about last year with the 47%. if the tax rates increase you all of a sudden have more people paying income taxes and you just have a broader, higher rate to play with. next year when they come back they can get rid of some of the duck -ts and what not and lower the rates and overall have a lot more money in the system to play...
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and start raising taxes. they don't -- what they are doing. >> they are killing the parties that they are supposedly -- >> you can't be weak and kill the party at the same time, kathy. the new york times is saying look they are on their way out. meanwhile they are controlling a party. here is what i don't get. >> they are losing influence and weakening. that is what the article was about. they are losing influence. they had it at the time. >> some of the tea party folks. rand paul. he is a star in the conservative movement. so say they have no influence and they are dying out is false. >> i think it is wishful thinking on the "new york times" part because the conditions that brought about the party aren't going away. there is still going to be that belief that there needs to be change. >> the tea party just gave a name to a movement that was going to happen no matter what. people were not happy with the way the country was going and just jumped on to the wave that was happening. they named the wave, they didn
and start raising taxes. they don't -- what they are doing. >> they are killing the parties that they are supposedly -- >> you can't be weak and kill the party at the same time, kathy. the new york times is saying look they are on their way out. meanwhile they are controlling a party. here is what i don't get. >> they are losing influence and weakening. that is what the article was about. they are losing influence. they had it at the time. >> some of the tea party folks....
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once again he he made a case for raising taxes on the top 2%. jing us now to respond dick harr harr boot alan. the president came out late afternoon inconveniencing the media which is the way it goes. he didn't say anything new. he said i'm an optimist and we should all take a break and let cooler heads prevail and people are suffering out there and they need more from washington. let me start by saying this. he still talks about washington as if he is not in washington. okay? my point on this is why is anyone going home or why is anyone taking much of a break until this thing is decided and agreed upon? your response. >> well, i think the president is facing a dysfunctional house of representatives. john boehner speaker of the house couldn't get his own plan passed this week. and i think he he is frustrated by the fact that he is dealing with a guy who can't deliver on any promises. on the senate side, the senate passed a bill last summer that would keep the bush tax cuts in place for everybody that makes $250,000 a year or less. it's been sitt
once again he he made a case for raising taxes on the top 2%. jing us now to respond dick harr harr boot alan. the president came out late afternoon inconveniencing the media which is the way it goes. he didn't say anything new. he said i'm an optimist and we should all take a break and let cooler heads prevail and people are suffering out there and they need more from washington. let me start by saying this. he still talks about washington as if he is not in washington. okay? my point on this...
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but also things like the alternative minimum tax, not to forget payroll tax. none of that is addressed in legislation, is that? >> literature that i've read through, i don't see any attention being paid to that. quite frankly, i am surprised that more hasn't been paid to taxes and spending earlier on. here we are in the last inning, trying to avoid going over the debt ceiling by issuing low-priced treasury securities, suspending those so that we don't hold the debt ceiling. we don't want breathing room until february. we want to have a plan in place that outlines a good plan. greg: procrastinators in washington dc -- they don't do anything unless they have to, right? >> it seems that way. it's unfortunate because i don't realize the exact ramifications. greg: thank you so much for joining us. happy holidays. >> happy holidays to you as well. heather: coming up, the person sentenced to death and then set free for converting from muslim to christianity. more coming up next. greg: a look at some crazy new laws in the books for 2013 heather: a changing of the guar
but also things like the alternative minimum tax, not to forget payroll tax. none of that is addressed in legislation, is that? >> literature that i've read through, i don't see any attention being paid to that. quite frankly, i am surprised that more hasn't been paid to taxes and spending earlier on. here we are in the last inning, trying to avoid going over the debt ceiling by issuing low-priced treasury securities, suspending those so that we don't hold the debt ceiling. we don't want...
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this is the average tax hit families will take on top of what they already pay in taxes. so those who make below 10,000 will pay an average of about $300. going to the bottom level there, those who make between 40 and 50,000, they will have to pay an extra $1700 on average. looking at next set of numbers for wage earners. 50 to 75,000, they will have to find an extra $2300 to send to washington. if you managed to make over $200,000 on the income mark it will be a big jump up, send a check to uncle sam for on average, about 14 thou additional dollars. and the highest wage earners, here are those numbers. if you make between $500,000 to a million, you will pay on average $34,000 more. and if you make over a million, the irs will want $216,000 additional dollars from you on top of what you already pay in taxes. one financial advisor tells fox that the uncertainty of it all is making families less willing to spend money before or after christmas and it is making businesses less willing to hire new employees. kelly? kelly: that is the uncertainty we've been talking molly. my f
this is the average tax hit families will take on top of what they already pay in taxes. so those who make below 10,000 will pay an average of about $300. going to the bottom level there, those who make between 40 and 50,000, they will have to pay an extra $1700 on average. looking at next set of numbers for wage earners. 50 to 75,000, they will have to find an extra $2300 to send to washington. if you managed to make over $200,000 on the income mark it will be a big jump up, send a check to...
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once again he he made a case for raising taxes on the top 2%. jing us now to respond dick harr harr boot alan. the president came out late afternoon inconveniencing the media which is the way it goes. he didn't say anything new. he said i'm an optimist and we should all take a break and let cooler heads prevail and people are suffering out there and they need more from washington. let me start by saying this. he still talks about washington as if he is not in washington. okay? my point on this is why is anyone going home or why is anyone taking much of a break until this thing is decided and agreed upon? your response. >> well, i think the president is facing a dysfunctional house of representatives. john boehner speaker of the house couldn't get his own plan passed this week. and i think he he is frustrated by the fact that he is dealing with a guy who can't deliver on any promises. on the senate side, the senate passed a bill last summer that would keep the bush tax cuts in place for everybody that makes $250,000 a year or less. it's been sitt
once again he he made a case for raising taxes on the top 2%. jing us now to respond dick harr harr boot alan. the president came out late afternoon inconveniencing the media which is the way it goes. he didn't say anything new. he said i'm an optimist and we should all take a break and let cooler heads prevail and people are suffering out there and they need more from washington. let me start by saying this. he still talks about washington as if he is not in washington. okay? my point on this...
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but i do know that the tax rates are going to expire. one of my favorite analogies and everyone said it's like 100 people are drowning and you are going to save 98 of them by only protecting them from a tax increase, 98%. and and my question is they are all drowning, right? which means raising taxes is a bad thing for everyone. why would we not save two? we would drowning be our policy? who would be in favor of a policy of drowning, raising taxes? sounds like it's a bad thing for everyone, why are they so in sis ten we raise tacks on someone? >> do you get the idea there's a discussion going on in the senate. i turn on the tv and different senators are taking to the floor and he they are speaking 209 other senators that might be there or the american people but what about in the halls of the u.s. senate? are people talk and negotiating, trying to work on solutions? >> the way it's been set up is for a few people in leadership, and i always joke i have to ask people in the media what's going on with the fiscal cliff thing because we don't
but i do know that the tax rates are going to expire. one of my favorite analogies and everyone said it's like 100 people are drowning and you are going to save 98 of them by only protecting them from a tax increase, 98%. and and my question is they are all drowning, right? which means raising taxes is a bad thing for everyone. why would we not save two? we would drowning be our policy? who would be in favor of a policy of drowning, raising taxes? sounds like it's a bad thing for everyone, why...
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the obama tax cut. then he will be able to reintate across-the-board sequestration cuts. 8.2% across the board. cut defense and health. they will be able to reintate a lot of programs and give his caucus the opportunity to say look, i am voting for something. i am voting to restore tax cuts for the middle class. voting to restore great thin things. republicans are in a tough position. no one will say vote to restore the tax cut for rich. this is his game plan from day one. >> eric: what is the a terptive? $250,000 and above? we see obama not oftenning cuts at all. looking for spending. >> kimberly: managing the message very well. conciliatory. >> andrea: boehner did -- boehner has taken heat. in his defense he has taken a ton of flak on this. he has given a terrible hand of cards. but he came to the table. he tried to at least bring something to the floor. mitch mcconnell knows he can't pass anything, any tax cut for everyone under $1 million. kimberly, that wouldn't even pass the senate. >> juan: allow
the obama tax cut. then he will be able to reintate across-the-board sequestration cuts. 8.2% across the board. cut defense and health. they will be able to reintate a lot of programs and give his caucus the opportunity to say look, i am voting for something. i am voting to restore tax cuts for the middle class. voting to restore great thin things. republicans are in a tough position. no one will say vote to restore the tax cut for rich. this is his game plan from day one. >> eric: what...
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tax on bottle water. one of the highest sales tax in the united states. increase in cigarette tax fell short of projected revenue because the tobacco store owners hoarded up the tax stamp before the increase went in effect. in chicago, mike tobin, fox news. >> doug: thank you, mike. how does one unapologize? that is later in grapevine. up next, look at politics behind russia move to ban american adoptions of russian orphans. . now, here's one that will make you feel alive. meet the five-passenger ford c-max hybrid. c-max says ha. c-max says wheeee. which is what you get, don't you see? cause c-max has lots more horsepower than prius v, a hybrid that c-max also bests in mpg. say hi to the all-new 47 combined mpg c-max hybrid. smoke? nah, i'm good. ♪ [ male announcer ] every time you say no to a cigarette, you celebrate a little win. nicoderm cq, the patch with time release smart control technology that acts fast and helps control cravings all day long. ♪ quit one day at a time with nicoderm cq. >> doug: checking international news now. iran kicked off
tax on bottle water. one of the highest sales tax in the united states. increase in cigarette tax fell short of projected revenue because the tobacco store owners hoarded up the tax stamp before the increase went in effect. in chicago, mike tobin, fox news. >> doug: thank you, mike. how does one unapologize? that is later in grapevine. up next, look at politics behind russia move to ban american adoptions of russian orphans. . now, here's one that will make you feel alive. meet the...
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>> higher taxes and entitlement cuts. harris: before you go, i hear a huge however, in all of this and that's because the only thing you say would slow down a positive outlook is the federal government getting in the way. you know they're pretty good at that. >> look what happened, not only 12 months but really the last almost four years the economy should have been on a natural high. it has its own momentum, its own natural growth. unemployment has been historically terrible on these kind of recoveries. washington interfering with the natural growth of the economy. we do need to get them out of the way. we need them to make decisions give ground rules and make a head of steam. harris: you call white house, call congress, let us know how it works out. >> i've been down to washington and talked to political leaders. everybody is in one camp or the other. somebody has to give. we hope they compromise soon. harris: dominic, thank you, a financial advisor giving us advice today. thank you. >> have a great day. harris: you too
>> higher taxes and entitlement cuts. harris: before you go, i hear a huge however, in all of this and that's because the only thing you say would slow down a positive outlook is the federal government getting in the way. you know they're pretty good at that. >> look what happened, not only 12 months but really the last almost four years the economy should have been on a natural high. it has its own momentum, its own natural growth. unemployment has been historically terrible on...
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something that everybody needs to be aware of, alternative minimum tax. this is something that people don't know that much about, but more than 30 million americans could get hit with this amt at about $3,000 extra on your tax bill. these are some of the things you need to sit down and be aware of and back to your point, kelly, that's up to you to take control. >> kelly: so, get educated. caroline, i wish we had more time to talk to you. that's a very he interesting topic there, amt and fear uncertainty and thank you for joining us, merry christmas. >> merry christmas. ♪ >> there's a new health warning to tell you about, a growing number of states are reporting the worst flu season in years and the f.d.a. has expanded its approval of the most widely described flu medication, tamiflu. you may have heard it. listen up, for children as young as two weeks old. our medical team is on. dr. david somati, head of robotics at mount sinai medical center. we're going to put up the states that are reporting so far, the worst flu season. tamiflu for kids two weeks o
something that everybody needs to be aware of, alternative minimum tax. this is something that people don't know that much about, but more than 30 million americans could get hit with this amt at about $3,000 extra on your tax bill. these are some of the things you need to sit down and be aware of and back to your point, kelly, that's up to you to take control. >> kelly: so, get educated. caroline, i wish we had more time to talk to you. that's a very he interesting topic there, amt and...
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more in taxes. the average tax increase for someone making between $50,000 and $75,000 a year is $2,399 and for those making diss 100,000 to $200,000 a tax increase of more than $6,000 awaits you. there is only one person that can provide the leadership and that is the president of the united states. >> no, sir. >> there is only one person that can provide the leadership. rather than campaigning he should be here leading and, woulding with people and talking to folks on both sides of the aisle to get a solution so we don't go over the cliff. i believe the president is eager to go over the cliff. >> i don't believe that at all. there are 535 of us that can provide leadership. there are 435 in the house. there are 100 in the senate. there is the president. all of us have a responsibility here. >> as you can see lots of finger-pointing going on on fox news today. the number three republican in the senate, a senate budget chairman faced off with what to do about the fiscal cliff. earlier we had the oppo
more in taxes. the average tax increase for someone making between $50,000 and $75,000 a year is $2,399 and for those making diss 100,000 to $200,000 a tax increase of more than $6,000 awaits you. there is only one person that can provide the leadership and that is the president of the united states. >> no, sir. >> there is only one person that can provide the leadership. rather than campaigning he should be here leading and, woulding with people and talking to folks on both sides...
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no tax increase for people below but taxes for people above. he won. 60% of voters said they were for it in exit polls including republicans. >> wake of house speaker john boehner's plan "b" failure, all eyes turn to senate leaders harry reid and mitch mcconnell and whether they work out something short of $4 trillion grand bargain. last-minute stop gap. attending tax cut for people making $250,000 or less. and unemployment benefits for 2 million people who will lose the benefits a week after christmas. >> it is going to be a patch. because in four days we can't solve everything. >> yet, other republicans note the president short-term fix raises some taxes, yet punt spending cuts until next year. >> i would vote for revenue, including the tax rate hike though i don't like them to get, to save the country from becoming greece. i'm not going to set aside the $1.2 trillion in cuts. >> if the president does return to washington this week, unclear whether he will come back here to hawaii for new year's with his family. joe lieberman says he expects
no tax increase for people below but taxes for people above. he won. 60% of voters said they were for it in exit polls including republicans. >> wake of house speaker john boehner's plan "b" failure, all eyes turn to senate leaders harry reid and mitch mcconnell and whether they work out something short of $4 trillion grand bargain. last-minute stop gap. attending tax cut for people making $250,000 or less. and unemployment benefits for 2 million people who will lose the...
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a lost taxes. you look at your paycheck, the first one in january you are going to see a lot less money. >> gregg: it's not just the expiration of bush tax cuts, but payroll tax goes back up. >> then there be will be fewer services. there will be a lot out there. merry christmas. [ laughter ] >> gregg: okay, we're trying to be positive. she smiles a lot on "bulls and bears" every saturday morning at 10:00 a.m. eastern. >> i smile with you, too. i'm with hits arer, you are a great team. >> heather: merry christmas everybody. >> investigators ex assuming the bodies, their murders were immortalized in the book "in cold blood." now detectives want to know if the killer was the same. >> i can't describe it. it was horrible. >> don can't forget that horrific day in 1959 when he walked in on the family all shot dead in their florida home. it remains the county's oldest unsolved crime but 53 years later, a detective thinks the walkers' killers is the same killers of the family in kansas. perry smith and di
a lost taxes. you look at your paycheck, the first one in january you are going to see a lot less money. >> gregg: it's not just the expiration of bush tax cuts, but payroll tax goes back up. >> then there be will be fewer services. there will be a lot out there. merry christmas. [ laughter ] >> gregg: okay, we're trying to be positive. she smiles a lot on "bulls and bears" every saturday morning at 10:00 a.m. eastern. >> i smile with you, too. i'm with hits...
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higher taxes, capital gain taxes because we don't have any clear picture yet on what reid and mcconnell might be crafting. >> harris: wow. people getting out of market suddenly. which companies stand to lose if that happens? >> this is a really interesting list of companies that was actually compiled by goldman sachs. we were reporting this today. these are companies that get 50% of their sales, or more, from the u.s. government. deals of the government. lockheed martin, granted construction. grumed. saint jude medical. motorola, waste manage: these are companies that not only have big contracts with the government but employ a lot of people who should these contracts not be renewed to the extent they are right now. those employees could be facing an uncertain future. >> harris: wow, at a time when we're still trying to generate enough jobs to break even at the end of the month. >> that's right. >> harris: adam shapiro, thank you. three police officers recovering from a rampage that played out inside their police station. it happened in southern new jersey. they say a man police had arr
higher taxes, capital gain taxes because we don't have any clear picture yet on what reid and mcconnell might be crafting. >> harris: wow. people getting out of market suddenly. which companies stand to lose if that happens? >> this is a really interesting list of companies that was actually compiled by goldman sachs. we were reporting this today. these are companies that get 50% of their sales, or more, from the u.s. government. deals of the government. lockheed martin, granted...
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a new tax coming out. the tax will be put on devices that range from mri's to prosthetics and items in every doctor's office and veterinary offices. it will be passed alongg to consumers and manufacturers say it will result in job loss and stifle innovation and upon send jobs over seas. we went to one manufacturer. adm electronics that employs 19 people to ask them what it means for their industry. >> your company is about to be hit with a 2.3 percent tax on medical devices. >> it means more. it is on gross sales and that can hurt the number of people working for us and number of sales and increase the costs of our device. >> this is a family run business and been in business 40 years. how does it plea out for your company? >> we tried not to lose our employees because we are like family and the devastating impact we may not be able to sustain the number of employees. >> we might have to lay someone off which i have never done before. it is it a tough thing to have to tell somebody. you have no job. >> and
a new tax coming out. the tax will be put on devices that range from mri's to prosthetics and items in every doctor's office and veterinary offices. it will be passed alongg to consumers and manufacturers say it will result in job loss and stifle innovation and upon send jobs over seas. we went to one manufacturer. adm electronics that employs 19 people to ask them what it means for their industry. >> your company is about to be hit with a 2.3 percent tax on medical devices. >> it...
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you know, for extending the bush tax cuts, is it 250,000 and above, that you let the taxes go up, is it 400, 500,000, ultimately what it comes down to, harry reid says i can get enough votes from democrats to support this plan. >> and democrats say and republicans say that would be about the 1 percent-ers, so-called 1 percenters would hit that 400,000 a year maybe higher, up to 500,000, what revenue does this generate? we've been hearing about this for a long time. what does it actually generate? well, if we take about 12.4 days to run the federal government, that's the amount of money extra that the government would bring in to run the federal government. that's how much we spend in 12 days. so, all of this fighting back and forth, that's why so much is being said or lack of-- i guess i should say, lack of being said about cuts. and the real way we can grow this economy is cuts. get all of this out of control spending in place first. >> dave: right, and just the conversation alone that we're now having, the american people are the loser in this deal because none of this talk is abou
you know, for extending the bush tax cuts, is it 250,000 and above, that you let the taxes go up, is it 400, 500,000, ultimately what it comes down to, harry reid says i can get enough votes from democrats to support this plan. >> and democrats say and republicans say that would be about the 1 percent-ers, so-called 1 percenters would hit that 400,000 a year maybe higher, up to 500,000, what revenue does this generate? we've been hearing about this for a long time. what does it actually...
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ran on that platform 250 no taxes below but taxes above. he won 60% of the voters said they were for it in the exit polls including some republicans. >> independent senator joe lieberman says he believes for the first time in the entire debate that we may be going off the fiscal cliff. he and others have said all along that there would be this fighting but right up to the deadline. they have finally come up with some sort of a deal. lieberman and others on the hill saying they think we may in fact go off the cliff. rattle the markets as you suggested, jamie. lieberman also believes the senate will be in session on new year's eve. going right up against the end of the year deadline to try to work this out, jamie. >> jamie: if any news breaks i know you will bring it to us. live from honolulu. washington is not the only one thinking about the fiscal cliff. it turns out that the concerns about it or affecting how much people are spending this holiday season. analysts saying overall sales are down from last year. it's not just the economy thoug
ran on that platform 250 no taxes below but taxes above. he won 60% of the voters said they were for it in the exit polls including some republicans. >> independent senator joe lieberman says he believes for the first time in the entire debate that we may be going off the fiscal cliff. he and others have said all along that there would be this fighting but right up to the deadline. they have finally come up with some sort of a deal. lieberman and others on the hill saying they think we...
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a lot of finger pointing and no answers as i said and just days remaining until tax increases and spending cuts all kick in and we all feel the pain. mike emanuel live with the news for us tonight on capitol hill. top democrats seem to be suggesting they cannot cut a deal without republican help. >> well, harris, that is right. and so they are asking what it will take to at least get some republican support. they say time is so critical. they cannot just roll out new legislation only to have the republicans reject it. we know president obama called the top four congressional leaders last night on his way back from hawaii. tomorrow afternoon at the white house will be a meeting between the president and those top four congressional leaders and earlier the top senate democrat expressed concern or frustration saying you cannot legislate with yourself. >> the republicans in the house have left town. the negotiations between the president and the speaker have fallen apart as they have for the last three and a half years. we have tried mightily to get something done. >> now, perhaps in an effort
a lot of finger pointing and no answers as i said and just days remaining until tax increases and spending cuts all kick in and we all feel the pain. mike emanuel live with the news for us tonight on capitol hill. top democrats seem to be suggesting they cannot cut a deal without republican help. >> well, harris, that is right. and so they are asking what it will take to at least get some republican support. they say time is so critical. they cannot just roll out new legislation only to...
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will pay more in payroll taxes. families making between 40 and $65,000 a year will have to pay an extra two grand to the government. gregg: coming up we'll talk with republican nick mulvaney whose house budget committee is obviously on the forefront of the fiscal talk. so we'll try to get the latest from him in just a moment. patti ann: meanwhile, gregg, we have new warnings from the treasury department that if a fiscal deal isn't reached our government will have to turn to extraordinary measures when the debt limit hits its ceiling. $16.4 trillion probably on monday. fox business network's stuart varney joins us now. hi, stu. you say this is the big story people aren't talking about? >> it is a sleeper issue, patti ann. on monday the government officially runs out of money and it can not borrow anymore. so it will have to shift all kind of cash around to make sure they can pay their bills and maybe they can do that for a couple of months. means you can kick the can, eight weeks be maybe, until the absolute crunch c
will pay more in payroll taxes. families making between 40 and $65,000 a year will have to pay an extra two grand to the government. gregg: coming up we'll talk with republican nick mulvaney whose house budget committee is obviously on the forefront of the fiscal talk. so we'll try to get the latest from him in just a moment. patti ann: meanwhile, gregg, we have new warnings from the treasury department that if a fiscal deal isn't reached our government will have to turn to extraordinary...
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i don't want taxes to go up. republicans don't want taxes to go up. but we only run the house, democrats continue to run washington. >> gregg: national correspondent steve centanni joins us live from washington. >> reporter: d.c. may be some shutting down for christmas but the clock hasn't stopped and fiscal cliff is closer than ever. no deal was reached this week to keep taxes from going up. joan boehner pulled plug on the plan "b" and he says it is now up to the president and g.o.p. is continuing to hammer away at president obama. >> this is the year size of our debt surpassed the our economy. a grim milestone if we don't come to grips to w it. the president's plan to raise tax rates ko could still be as far as eye could see. >> reporter: president obama will return after christmas and work on fiscal issues. he believes a comprehensive deal could be reached but he seems to be acknowledging for scaled back plan for cutting taxes on the middle-class. >> even though democrats and republicans are arguing about whether those rates should go up for the we
i don't want taxes to go up. republicans don't want taxes to go up. but we only run the house, democrats continue to run washington. >> gregg: national correspondent steve centanni joins us live from washington. >> reporter: d.c. may be some shutting down for christmas but the clock hasn't stopped and fiscal cliff is closer than ever. no deal was reached this week to keep taxes from going up. joan boehner pulled plug on the plan "b" and he says it is now up to the...